A tax-deferred like-kind exchange of personal property allows a corporate or individual taxpayer to sell their existing personal property and acquire more profitable and/or productive personal property (of like kind) while deferring Federal, and in most cases, State capital gain income tax liabilities.
 
 The Internal Revenue Service has recently ruled that Intellectual Property such as trade names, trademarks, and customer-based intangibles that can be separately described and valued apart from goodwill and can qualify as like-kind property under § 1031 (provided the properties satisfy the other requirements of § 1031 including the nature and character rules of Regulation § 1.1031(a)-2(c)(1)).
 
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